Daniel Mankani "DynamicTrader – Trend Trading Dynamics" Trading for a living, systematically profiting from longer term trends.

7Feb/12Off

Bloomberg Reports Japan Adopts Stealth Intervention as Yen…

Bloomberg Reports - Japan Adopts Stealth Intervention as Yen Gains Hurts Growth. Something always speculated and suggested as the right way forward.
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Feb. 7 (Bloomberg) -- Japan sold its currency five times in the final quarter of last year, the Ministry of Finance said on its website today, as the government moved to shield exporters’ earnings from the impact of yen gains.

The ministry’s quarterly data confirmed speculation that the nation carried out so-called stealth intervention following a record daily sale of 8.07 trillion yen ($105 billion) on Oct. 31, when the Japanese currency climbed to a post World War II high of 75.35 against the dollar. Japan sold a total of 1.02 trillion yen during the first four days of November, according to the report.
http://www.businessweek.com/news/2012-02-06/japan-adopts-stealth-intervention-as-yen-gains-hurts-growth.html

Technical - Stuck between 76.50-76.80 range, a breakout should occur to the upside, targeting 77.25/30 resistance levels. Break below 76.50 aborts.

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